Trading in the bullion market of Bihar capital Patna experienced a downward shift on Thursday after remaining largely unchanged for four consecutive sessions. Compared to the price levels seen on Wednesday, gold experienced a substantial dip of roughly 1500 rupees per 10 grams. Concurrently, silver rates also trended lower across local trading counters, shedding up to 2000 rupees per kilogram in a single day.
Favorable Window for Wedding Shoppers
This price drop just ahead of the start of the wedding shopping rush brings notable financial relief to retail jewelry buyers. Bullion values have dropped substantially following Diwali festivities, prompting market watchers to view the ongoing week as an opportune moment for securing bridal ornaments. With changing global factors likely to exert upward pressure on precious metals in the coming week, immediate buying is seen as advantageous before fresh rate hikes arrive.
Breakdown of 24K, 22K and 18K Gold Tariffs in Patna
On the retail floor in Patna, the base price of 24 karat pure gold fell from 122,500 rupees to 121,000 rupees per 10 grams. When applicable GST is included in the retail billing, the effective price for 24 karat metal stands at 124,630 rupees per 10 grams. For jewelry fabrication, 22 karat gold without tax is currently trading at 112,000 rupees per 10 grams, while 18 karat purity gold is marked at 92,000 rupees per 10 grams.
Silver Retail Figures and Applicable Taxes
Industrial metal and silver bullion followed an identical corrective course across counters in Patna. Standard silver bullion dropped from its earlier quote of 153,000 rupees down to 151,000 rupees per kilogram. Meanwhile, hallmarked silver ornaments are retailing at 149,000 rupees per kilogram before taxation, with the final customer outflow arriving at 153,470 rupees per kilogram after adding applicable GST.
Prevailing Exchange Rates for Pre-Owned Jewelry
Clear rate slabs have also been determined for consumers seeking to trade in their existing ornaments for fresh designs. The exchange valuation for pre-owned 22 karat gold jewelry is fixed at 109,000 rupees per 10 grams, whereas 18 karat pre-owned gold ornaments fetch 89,000 rupees per 10 grams. In the silver segment, hallmarked used ornaments carry an exchange rate of 145 rupees per gram, while non-hallmarked items are being accepted at 143 rupees per gram.
